R Michael Carruthers Sells 125,092 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO R Michael Carruthers sold 125,092 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the transaction, the chief financial officer now owns 6,904 shares of the company’s stock, valued at approximately $197,247.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Edgewise Therapeutics Trading Down 0.2 %

EWTX opened at $25.87 on Thursday. The company’s 50 day moving average is $19.22 and its 200-day moving average is $18.31. Edgewise Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $30.00. The company has a market cap of $2.43 billion, a P/E ratio of -16.69 and a beta of 0.15.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.02. On average, equities analysts forecast that Edgewise Therapeutics, Inc. will post -1.47 EPS for the current year.

Analyst Ratings Changes

EWTX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Truist Financial increased their price target on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Piper Sandler reiterated an “overweight” rating and issued a $48.00 price target on shares of Edgewise Therapeutics in a research note on Monday, July 1st. Wedbush restated an “outperform” rating and set a $31.00 target price on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $32.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $35.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EWTX. Novo Holdings A S bought a new stake in shares of Edgewise Therapeutics in the 2nd quarter valued at $114,263,000. Quarry LP bought a new stake in shares of Edgewise Therapeutics in the 2nd quarter valued at $252,000. Frazier Life Sciences Management L.P. increased its stake in shares of Edgewise Therapeutics by 12.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company’s stock valued at $67,197,000 after acquiring an additional 427,500 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Edgewise Therapeutics by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,366 shares of the company’s stock valued at $691,000 after acquiring an additional 7,786 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Edgewise Therapeutics by 115.2% in the 2nd quarter. Millennium Management LLC now owns 1,145,506 shares of the company’s stock valued at $20,631,000 after acquiring an additional 613,251 shares in the last quarter.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.